Asia Economist and CEO, Centennial Asia Advisors

Manu Bhaskaran

Mr. Bhaskaran is a leading Asian economist based in Singapore with more than 30 years of experience in studying economic, political and security issues that shape the business environment in Asia. He co-ordinates the Asian business of Washington DC-based strategic advisory firm, Centennial Group, directing its Asian economic research practice which provides in-depth analysis of macro trends in Asia. He works extensively with investment institutions, government agencies and corporations. Mr. Bhaskaran regularly presents his views on the economic, political and business environment in Asia at business conferences and in-house briefings. He has conducted studies on a wide range of subjects including: consumer finance in Asia; Asian integration; regional and country-specific political and economic outlooks; the Impact of China on Asia; portfolio capital flows in emerging markets, amongst many others. He is as a member of the Regional Advisory Group for Asia and the Pacific of the International Monetary Fund. Mr. Bhaskaran is a regular columnist for The Edge (Singapore) and holds positions in think tanks including being Adjunct Senior Research Fellow at the Institute of Policy Studies (IPS); Vice President of the Economics Society of Singapore, and Council Member of the Singapore Institute of International Affairs (SIIA). Mr. Bhaskaran serves on the boards of CIMB Investment Bank and Japfa Limited.

Asia Economist and CEO

Centennial Asia Advisors

At Centennial Asia Advisors, we tell it like it is. We have no vested interests, no need for a China wall, and no reason to skew our outlook any other way. With over 30 years experience covering Asia’s political economy, you can be sure our conclusions and analyses are based on the unadulterated facts. Through years of fine-tuning our research methodologies, we deliver a quality of macroeconomic analysis few other houses can match.

Centennial Asia Advisors is an independent research and advisory firm that works with governments, multilateral institutions, financial firms and leading MNCs.

Economic Policy and Strategic Advisors

Macroeconomics

Highlights:&nbsp;Domestic risks rising in the Philippines<ul><li>The strength of the US Dollar has hit the growth of remittances from non-USD labour markets, as seen by the sharp contractions in both Europe and Asia's remittances growth rates. Given that remittances are pivotal to consumption in the Philippines, this deceleration could mean softer consumer spending.</li><li>President Aquino&rsquo;s loss of popularity, which could make him a lameduck president, could also impact the impending 2016 elections as candidates aligned to Aquino and his party could be undermined by such negative sentiments.</li><li>However, in the medium and longer term, we still see the Philippines outperforming its peers, due to a confluence of positives including favourable demographics, stable macroeconomic framework and stronger corporate governance in the country.</li></ul>Fed policy: markets may well be disappointed<ul><li>While the latest statements from the Federal Reserve Bank of the US signalled a more cautious approach to monetary normalisation than financial markets feared, we believe that the underlying US economy is robust and likely to accelerate in coming quarters to the point where monetary tightening will take place at a faster pace than markets now expect.</li></ul>

Highlights:&nbsp;Domestic risks rising in the PhilippinesThe strength of the US Dollar has hit the growth of remittances from non-USD labour markets, as seen by the sharp contractions in both Europe and Asia's remittances growth rates. Given that remittances are pivotal to consumption in the Philippines, this deceleration could mean softer consumer spending.President Aquino&rsquo;s loss of popularity, which could make him a lameduck president, could also impact the impending 2016 elections as candidates aligned to Aquino and his party could be undermined by such negative sentiments.However, in the medium and longer term, we still see the Philippines outperforming its peers, due to a confluence of positives including favourable demographics, stable macroeconomic framework and stronger corporate governance in the country.Fed policy: markets may well be disappointedWhile the latest statements from the Federal Reserve Bank of the US signalled a more cautious approach to monetary normalisation than financial markets feared, we believe that the underlying US economy is robust and likely to accelerate in coming quarters to the point where monetary tightening will take place at a faster pace than markets now expect.

Philippines Stock Exchange PSEi Index (PCOMP INDEX)

Domestic risks rising in the Philippines. Is the Fed really deferring monetary normalization? 